San Francisco, CA - Local Housing Data - Summary

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San Francisco, Oakland, Fremont, CA

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San Francisco, CA Local News

  • SanFran's Housing Crisis Explained

    Tech Crunch contributor Kim-Mai Cutler reports that the tech industry is apparently on track to destroy one of the world's most valuable cultural treasures, San Francisco, by pushing out the diverse.

  • Lennar Kicks Up its Bay Area Multifamily Play

    After about two years in the Bay Area market, Lennar Multifamily is making progress on three projects totaling close to 500 units in Redwood City, Mountain View and Berkeley.

  • Condos Climb Recovery Stage Two 'Wall of Worry'

    San Jose Mercury News staffer Pete Carey reports that a shortage of high-end condos has newly minted tech millionaires scrambling for a pied-a-terre in San Francisco. They want a view and all the latest amenities--but there's little available, according to luxury real estate agents.

Check Out the Latest Numbers Show Prices of New Homes Increase in San Francisco, Sales Decline

Posted on: Apr 09, 2014 07:01:57 AM

New home closings in the San Francisco, CA market declined year-over-year in January, and the percentage decline was steeper than December 2013, giving suggestion the market may be worsening. New home closings saw a decline of 26.9% from the year earlier to 185. This came on the heels of a 21.8% drop year-over-year in December.

A total of 3,163 new homes were sold during the 12 months that ended in January, down from 3,231 for the year that ended in December.

Of the total number of closings, new home closings made up 6.6%. New home closings were 6.8% of overall closings last year. Closings of new and existing homes dropped year-over-year in January after also falling in December year-over-year.

Pricing and Mortgage Trends

The average price of new homes jumped year-over-year 26.4% in January to $764,556 per unit. This hike is smaller than the 27.2% lift in December year-over-year.

The average mortgage size on newly sold homes grew year-over-year along with the average price of new homes. It climbed to $540,886 in January, a 17.2% surge. Average mortgage size climbed 21.9% in December 2013 from a year earlier.


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